Citigroup Cuts WillScot (NASDAQ:WSC) Price Target to $23.00

WillScot (NASDAQ:WSC) had its target price trimmed by Citigroup from $26.00 to $23.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

WSC has been the topic of several other research reports. William Blair reissued a “market perform” rating on shares of WillScot in a research report on Thursday, March 5th. Morgan Stanley lifted their price objective on shares of WillScot from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Robert W. Baird reiterated a “neutral” rating and set a $23.00 price objective (up from $22.00) on shares of WillScot in a research report on Wednesday, January 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of WillScot in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of WillScot from a “hold” rating to a “sell” rating in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, WillScot presently has an average rating of “Hold” and an average target price of $25.50.

WillScot Trading Down 0.8%

WSC opened at $19.32 on Monday. The firm has a market cap of $3.49 billion, a P/E ratio of -64.40, a P/E/G ratio of 1.41 and a beta of 1.08. WillScot has a 12 month low of $14.91 and a 12 month high of $31.88. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 4.15. The stock has a 50-day moving average of $21.21 and a 200 day moving average of $21.06.

WillScot (NASDAQ:WSC) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $565.97 million for the quarter, compared to analysts’ expectations of $545.34 million. WillScot had a negative net margin of 2.32% and a positive return on equity of 20.42%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. As a group, research analysts forecast that WillScot will post 1.77 EPS for the current year.

WillScot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. WillScot’s payout ratio is presently -93.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC raised its position in WillScot by 117.3% during the 4th quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company’s stock valued at $25,000 after purchasing an additional 679 shares in the last quarter. Parallel Advisors LLC grew its position in shares of WillScot by 149.9% during the 4th quarter. Parallel Advisors LLC now owns 2,064 shares of the company’s stock worth $39,000 after buying an additional 1,238 shares in the last quarter. CWM LLC increased its stake in shares of WillScot by 37.7% during the fourth quarter. CWM LLC now owns 2,071 shares of the company’s stock valued at $39,000 after buying an additional 567 shares during the period. Danske Bank A S bought a new stake in shares of WillScot in the third quarter valued at about $44,000. Finally, First Horizon Advisors Inc. lifted its stake in WillScot by 45.1% in the second quarter. First Horizon Advisors Inc. now owns 2,130 shares of the company’s stock worth $58,000 after acquiring an additional 662 shares during the period. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

WillScot Company Profile

WillScot (NASDAQ: WSC) is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.